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2623 Englewood Rd Venice, FL 34293

3 Beds 2 Baths 1,997 sqft Built 2007

$319,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $160.19
  • 5 Days on Market
  • MLS # : A4482723
  • Updated Date : 11/06/2020 at 08:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full
Listing Agent

Florida Dream Team Realty Services Llc

Listing Agent's Description

Walk up to the new stone entryway, with new outdoor lighting and landscaping to this move in ready home, with a great outdoor space. Walk out the sliders to a backyard oasis including a hot tub, with covered areas great for entertaining or just spending time with family. Recent updates include, landscaping, stainless steel appliance package, additional electrical panel for generator, upgraded energy efficient windows and many more This home is close to many amenities including, beach, shopping, arts and airports. ***WASHER,DRYER AND GENERATOR DO NOT CONVEY****A 1 YEAR HOME TECH HOME WARRANTY INCLUDED****

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MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Garden Elementary School Primary Regular 649 43 6
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Garden Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 43
6
GreatSchools Rating

Venice Middle School

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 41
7
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,180
Property Tax -$316
Property Insurance -$159
Property Management Fees -$80
CASH FLOW
$715

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$319,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

15.67

YEARS SAVED

$97,639

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,450

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,237

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9754$2,2005$2,450
$2,450
RENT COMPS ANALYSIS
  • 2623 Englewood Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.23
    •  
  • 415 E Baffin Dr Venice, FL 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2001
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
  • 308 Rallus Rd Venice, FL 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2002
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
  • 1765 Pomelo Dr Venice, FL 3
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2000
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.11
    •  
  • 3248 Geneva Rd Venice, FL 4
    • 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 2018
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.26
    •  
PROPERTY LISTING DETAILS
Pino Masucci
1.941.322.4078
Florida Dream Team Realty Services Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482723
Last Updated: 11/06/2020
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